MODULE DESCRIPTOR TITLE CORPORATE FINANCE SI MODULE CODE 25-6013-00L CREDITS 20 LEVEL 6
JACS CODE N340 - Financial Management
SUBJECT GROUP FINANCE AND BANKING - SBS
DEPARTMENT Finance, Accounting and Business Systems
MODULE LEADER Denzil Watson
NOTIONAL STUDY HOURS BY TYPE
Tutor-led Tutor-directed Self-directed Total Hours
36 72 92 200
MODULE AIM(S)
• To develop a critical understanding of modern corporate finance theory and its associated concepts in an international business context.
• To enable students to develop competencies in translating these concepts into an organisational strategic business context.
• To provide students with a deeper understanding of the key financial decisions made by public limited companies within the international financial environment in which they operate.
• To enable students, through the application of appropriate tools and techniques, to both evaluate and solve complex corporate finance problems.
MODULE LEARNING OUTCOMES
By engaging successfully with this module a student will be able to On completion of the module you will be able to:
1. Understand modern academic corporate finance theory and be able to offer a critique of these theories.
2. Define the scope, role and purpose of the financial decision making process within the context of public limited companies, both nationally and internationally, and develop an understanding of the interrelated nature of these decisions.
3. Demonstrate a clear understanding of the objectives of corporate finance and how such objectives are achieved in practice.
4. Apply appropriate tools and techniques to a variety of corporate finance problems, while demonstrating numerical competency.
5. Evaluate and interpret financial information and establish whether or not financial objectives are being achieved.
INDICATIVE CONTENT
These are examples of the content of the module
• Sources of long-run finance including equity, debt (including convertibles) and leasing.
• Company valuation using asset based and going concern valuations. • Cost of capital and optimal capital structure theory
• Dividend relevance versus dividend irrelevance, factors affecting a company's dividend policy and alternatives to cash dividends
• Portfolio theory, the Capital Asset Pricing Model and the CAPM in investment appraisal.
• Advanced investment appraisal, including incorporating risk in investment appraisal and appraising overseas investment decisions
LEARNING AND TEACHING METHODS
Students will be supported in their learning, to achieve the above outcomes, in the following ways
Lectures:
Lectures are used to introduce and develop key concepts and core knowledge. This then provides a clear framework for analysing particular issues and problems in corporate finance. Visual aids, such as PowerPoint, will be used in these sessions.
Seminars:
Seminars are used to review and reflect on material introduced during lectures and through self-study. Activities include students presenting their views, critically discussing aspects of corporate finance theory and the exploration of key concepts in more depth. Students are be required to prepare answer in advance to a variety of numerical questions, many of which are based on past examination questions. These are then worked back through in seminars. These questions are set out in the module manual.
Virtual Learning Environment (VLE):
The module has a dedicated Blackboard site, which students are expected to access on a regular basis. The Blackboard site is used to communicate information to students outside of contact sessions (via the 'Announcements' page). In addition, the Blackboard site includes:
• An electronic version of the module learning scheme • Links to lecture/PowerPoint slides
• Suggested solutions to seminar questions • Interactive practice phase tests
• Additional back ground reading and information including links to external websites, journals and articles.
Weekly Surgery/Meetings:
Each module tutor has a weekly 'surgery' time, the details of which are published under 'Staff Details' on the Blackboard site. Outside of scheduled surgery times, students can
arrange a one-to-one meeting with their tutor, or alternatively contact him/her by email or telephone should they require guidance or advice.
ASSESSMENT STRATEGY AND METHODS
The assessment focuses the ability to demonstrate a knowledge and understanding of relevant concepts and theories in Corporate Finance, and the ability to combine this
knowledge and understanding, via relevant techniques, to solve a number of problems in the area of corporate finance. Assessment is hence split into:
• Phase test.
• Written examination (time-constrained and unseen) testing more advanced numerical problems and the understanding and ability to critique corporate finance theory. Task No. TASK DESCRIPTION SI Code % Weighting of overall module mark Word Count / Duration In-module retrieval available Percentage Pass Mark or Pass/Fail 1 Coursework CW 40 2 hours No 2 Examination EX 60 3 hours No
ASSESSMENT CRITERIA Learning
Outcome
Fail Pass 2.2 2.1 First
1 Little understanding of modern finance theory Basic understanding of modern finance theory Reasonable understanding of modern finance theory and ability to offer a basic critique Good understanding of modern finance theory and good and insightful critique
Excellent
understanding of modern finance theory with the ability to offer an increasingly advanced critique
2 Little awareness of the scope, role and purpose of the financial decisions
Basic
awareness of the scope, role and purpose of the financial decisions
Reasonable awareness of the scope, role and purpose of the financial decisions
Good
awareness of the scope, role and purpose of the financial decisions and their interrelated nature Excellent awareness of the scope, role and purpose of the financial decisions and an advanced understanding of their interrelated nature 3 Little or no understanding of corporate finance objectives and how they are achieved in practice Basic understanding of the objectives of corporate finance and limited understanding of they are achieved Reasonable understanding of both the objectives of corporate finance and how they are achieved Good understanding of the objectives of corporate finance and how they are achieved
Advanced understanding of the objectives of corporate finance and how they are achieved 4 Shows no ability to use appropriate tools and techniques to solve numerical problems Shows limited ability to use appropriate tools and techniques to solve numerical problems Shows reasonable ability to use appropriate tools and techniques to solve numerical problems Shows good ability to use appropriate tools and techniques to solve numerical problems Shows excellent ability to use appropriate tools and techniques to solve numerical problems 5 No evaluation and interpretation of financial information and hence an inability to draw conclusions as to whether financial objectives are being achieved. Limited evaluation and interpretation of financial information and basic conclusions as to whether financial objectives are being achieved. Satisfactory evaluation and interpretation of financial information and reasonable conclusions as to whether financial objectives are being achieved. Good evaluation and interpretation of financial information and insightful conclusions as to whether financial objectives are being achieved. Excellent evaluation and interpretation of financial information and perceptive conclusions as to whether financial objectives are being achieved.
FEEDBACK
Students will receive feedback on their performance in the following ways Formative
• In tutorials: students receive formative feedback on an on-going basis during their seminars. Students will be able to review their progress by comparing their own answers to seminar questions and suggested answers/solutions, in addition to receiving verbal feedback regarding their ability to solve numerical questions and critically evaluate theoretical aspects of the module.
• Formative feedback to help student's preparation for both the phase test and
examination will be provided via the use of several on-line non-assessed phase tests. Summative
• Results and suggested solutions for the phase tests are given to students shortly after its sitting, providing both summative and formative feedback.
• Summative feedback on the examination and overall module performance will be provided after the examination board has considered the results and will be distributed electronically. Students will be given the opportunity for individual feedback.
LEARNING RESOURCES (INCLUDING READING LISTS)
The module leader liaises closely with the University Learning Centre to ensure a wide variety of the latest books and articles are available to aid your studies. You will also be able to utilise the online journals database via the learning centre website. The module guide will outline key readings along with utilising the Talis reading list system.
Electronic copies of all teaching materials will be placed on Blackboard along with sample assessments, formative work, weblinks and additional resources. A discussion board will be available so that you are able to communicate with your fellow students and tutors
Core text:
SECTION 2 'MODEL A' MODULE (INFORMATION FOR STAFF ONLY) MODULE DELIVERY AND ASSESSMENT MANAGEMENT INFORMATION MODULE STATUS - INDICATE IF ANY CHANGES BEING MADE
NEW MODULE No
EXISTING MODULE - NO CHANGE No
Title Change No
Level Change No
Credit Change No
Assessment Pattern Change Yes
Change to Delivery Pattern No
Date the changes (or new module) will be implemented 01/Sep/2014 MODULE DELIVERY PATTERN
Module Begins Module Ends
17/Sep/2012 30/May/2013
Is timetabled contact time required for this module? Yes Are any staff teaching on this module non-SHU employees? No FINAL TASK
According to the Assessment Strategy shown in the Module
Descriptor, which task will be the LAST TASK to be taken or handed-in? (Give task number as shown in the Assessment Strategy)
Task No. 2
